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FINANCE BRIEFS

* Chase Manhattan Corp., New York, is selling $250 million of zero-coupon subordinated medium-term notes due in 2027 through Paine Webber Inc. The notes, which are callable in 10 years, pay no quarterly interest. At maturity the notes will yield 8.25 percent. The issue is rated A1 by Moody's Investors Service, A- by Standard & Poor's and A by Duff & Phelps.

* Federal National Mortgage Association, or Fannie Mae, is selling $100 million of medium-term notes due in 2004 through Lehman Brothers. The notes, which are callable in three years, carry an interest rate of 7.11 percent and are priced at par.

* Federal National Mortgage Association is selling $100 million of medium-term step-up notes due in 2000 through Deutsche Morgan Grenfell. The notes, which have a one-time call on April 6, 1998, carry a 6.14 percent coupon and are priced at par. If the notes are not called, the coupon increases, or steps up, to 7 percent.

* Federal Home Loan Mortgage Corp., or Freddie Mac, is selling $500 million of debentures due in 2002 through Lehman Brothers and J. P. Morgan Securities. The debentures, which are callable in a year, carry an interest rate of 7.08 percent and are priced at par.